Forex trading as a career
Sometimes various economic subjects will directly link back to trading and the decisions we make, when we decide to enter the world of forex trading as a career. As an example; "what self employed path we take and why?", should be a question at the forefront of every potential trader's mind, when they're considering Forex Trading as a career.
This question and the overall subject matter is quite complex, and needs to be covered in more detail than a short five hundred word article, therefore we've divided the article into two parts. Part one will cover many aspects regarding self employment, and we'll use the U.K. as a reference point. Part two will concentrate more on why forex trading in particular can make an educated choice for anyone considered becoming self employed.
Sobering trading and business figures
We know the percentage of traders who actually succeed in making a living out of the forex markets is small, some statisticians place the level of success as low as 3%, the level of successful traders might be higher, as not everyone is looking to derive an income from the industry. We also know that on average, according to recent data from French finance authorities, that the average trader/investor loses circa €10,000 euros inside twelve months, before giving up trading. Now this data relates to CFDs traded by French citizens specifically, but it's a fairly safe assumption to suggest that those figures would be similar, if we transposed them onto trading equities, or forex.
It's our contention that with minor adjustments to risk, probability and overall money management embedded in a secure trading plan, we could very easily decrease that example of a €10,000 loss. Good forex education, preparation and trading discipline should essential before you even consider a trading career.
In the UK since the financial crash, credit crunch and the induced recession self employment numbers have spiked, there's now circa 4.8 million self employed in the UK versus 2.5 million in 2007. Sadly, the average weekly income for the self employed has crashed to approx L80 a week in 2016 from circa L250 in 2010, whilst apparently 80% of the UK's self employed are currently living under the UK's measurement of poverty line. That's a depressing, realistic and sobering thought, for anyone considering setting up any business venture, unless it's a trading business.
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Updated on 14. January 2020
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